Recent Assignments

Sarbanes-Oxley

Assignment: A NYSE-listed pharmaceutical company realized early in 2005 that it had a Sarbanes-Oxley issue. A review of the balance sheet had revealed the need for reclassification of long-term debt as short-term debt, in the process triggering a covenants issue with the company's lenders.

Hanquoc Emb's Role: We were able to provide the client with a very experienced treasurer within four days and, when the CFO of its largest operating division was moved to a corporate role, we added an interim CFO with pharma experience. This team's experience level allowed it to immediately contribute, addressing the Sarbanes-Oxley issue and other key financial issues, resulting in a favorable impact on the company's financial structure as well as its relationship with its lenders.

Duration of Assignment: Approximately 12 months (in progress).

Merger Integration

Assignment: A major insurance company was faced with a post-merger integration issue that threatened to take down the company.

Hanquoc Emb's Role: We brought in a proven executive from outside of the insurance industry with real expertise in post-merger integration issues. Our manager refocused and reorganized the management team, handling the issue in a way that gave everybody - including the board - confidence that it was being handled correctly, and then left after the company brought in a permanent executive with the "right" insurance credentials.

Duration of Assignment: 18 months.

CEO Termination

Assignment: A privately owned holding company with approximately 20 operating companies brought in Hanquoc Emb before terminating its CEO, CFO and corporate counsel for cause.

Hanquoc Emb's Role: We put a joint CEO/CFO team in place to terminate the managers, and then operate the business with the objective of stabilizing the situation and maximizing the value of the remaining businesses prior to the sale of the business.

Duration of Assignment: Approximately a year (still current).

Divestitures

Assignment: The president of a leading leisure goods manufacturer needed help managing a troubled division.

Hanquoc Emb's Role: We quickly installed a senior manager with experience managing other consumer goods companies. When the company, which was in bankruptcy, decided to sell the division, our role expanded to include positioning it for sale to a strategic buyer.